person-to-person payment

American  

[pur-suhn-tuh-pur-suhn pey-muhnt] / ˈpɜr sən təˈpɜr sən ˈpeɪ mənt /

noun

Digital Technology.

1. a transfer of funds directly from one person to another over the internet or a mobile phone network, often by means of an app. P2P

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Etymology

Origin of person-to-person payment

First recorded in 1995–2000

Example Sentences

What do I need to know about person-to-person payment platforms like Zelle and Venmo?

From New York Times

In a survey of nearly 1,400 people whose accounts were accessed without their consent last year, a quarter said Zelle or other person-to-person payment services were used to make unauthorized money transfers, according to a report by Shirley Inscoe, an adviser at Aite-Novarica Group, a financial services consultant.

From New York Times

Nearly 18 million Americans were defrauded through scams involving digital wallets and person-to-person payment apps in 2020, according to Javelin Strategy & Research, an industry consultant.

From New York Times

Ultimately, the best person-to-person payment app depends on what you use it for — and how much you care about digital privacy.

From Seattle Times

Meanwhile, a bunch of person-to-person payment systems — PayPal, Venmo, Square Cash, Zelle and so on — promise to move money more quickly between individuals.

From Seattle Times